Singapore breaks into top 5 financial hubs, researchers say

[SINGAPORE] Singapore is now among the top five finance hubs in the world after steadily attracting foreign bank assets and direct investment, according to London-based think tank New Financial.

The city state has jumped from ninth place in 2015, overtaking the likes of China and investment fund centre Luxembourg, the think tank’s researchers found. The US, UK and Hong Kong cemented their positions in the top three, based on signs of international activity such as assets under management, foreign bank holdings, and private and public fundraising. 

Singapore’s assets under management rose to S$6.7 trillion at the end of 2025. The city state has attracted billions of dollars in capital flows at a time when policy shifts elsewhere have prompted some wealthy individuals to reconsider where they hold assets.

Banks including JPMorgan Chase are expanding in Singapore to capture a slice of the expanding wealth base. The island’s regulator is also working with private banks to shorten the account opening time with a “risk-appropriate” approach for the rich to a month.

Other fast-growing international hubs in the past ten years included India, Ireland and Canada, according to the New Financial rankings, which focused on cross-border activity rather than domestic finance. BLOOMBERG